REO FAQ

Q: What does REO mean?A : REO is an acronym for "Real Estate Owned."Q: Why do people purchase REO properties?A : The properties are often listed "as is." That makes them great opportunities for those who want to buy and fix up the properties and use them as a principle residence or an investment property.Q: How is purchasing REO properties different from regular real estate purchases?A : REO properties are owned by corporations not individuals which leads to significant differences in all aspects of the purchase.Q: What should I know about buying at a "Trustee's Sale"?A : Do your research before buying and use extreme caution before investing. Properties purchased at a Trustee's Sale are sold "as-is" for cash. There are no refunds.